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  Great visualization of the world’s gold production. This chart further backs our thesis that there will be a premium for reserves in the ground as production decreases in

  February saw reported global gold reserves rising for the eleventh consecutive month at 52 tons. In 2022, Central banks purchased the most gold they have since 1967 at 1135

From the 2022 Annual Report. To view the complete Annual Report, click here. Market Commentary The Russian invasion of Ukraine was the most significant event over the past year, in